LAWON RIGHT OF SECURITY UPON MOVABLE OBJECTS AND RIGHTS FILED IN REGISTRY("Official Herald of the Republic of Serbia", Nos. 57/2003, 61/2005, 64/2006 - correction, 99/2011 - other laws, and 31/2019) |
Article 1
The present Law regulates the pledge, without delivering in possession, of movable objects and rights for the purpose of securing a claim of a creditor, the contract of security, the rights and obligations of contracting parties, the filing of the right of security in the registry, the settling of a creditor secured by pledge, and the termination of the right of security.
Movable objects and rights shall be pledged by filing in the registry that shall be instituted in conformity with the present Law.
Legal relations that are not regulated by the present Law shall be subject to regulations covering obligations (contract and torts) and property law relations, and to other regulations.
Article 2
By a contract of security a pledger shall assume the obligation to a creditor to extend to him a security for his claim in such a way as to have creditor's right over pledger's object filed in the security right registry (hereinafter: Security Registry).
A pledger may be a debtor or a third party.
The contract of security shall regulate rights and obligations of the pledger and the creditor.
Article 3
Contract of security shall particularly include: the day of conclusion, name and surname, business name or firm, domicile or residence, i.e. creditor's, pledger’s and debtor’s head office, if debtor and pledger are not the same person, the subject matter of the right of security, description of the subject matter of the security right and data about the claim which is secured.
The contract of security shall be concluded in writing.
Acquiring the Right of Security
Article 4
Unless otherwise specified by the present Law, a creditor shall acquire the right of security by the filing in the Security Registry.
If a pledger has pledged an object upon which he has no right of ownership, or where the security is not valid out of other reasons, the filing in the Security Registry shall produce no legal effect.
A creditor who has acquired a security right after things were turned over to his possession or in some other legal manner, may demand the entry of his security right into the Pledge Registry, in order to obtain the priority right in collection in accordance with this Law.
Article 5
Filing the right of security in the Security Registry may be requested by the creditor or the pledger.
Where filing is requested by the creditor, a special statement shall be necessary of the pledger indicating his consent to creditors' request for filing the right of security in the Security Registry.
Legal Effect of the Right of Security
Article 6
A creditor whose right of security is filed in the Security Registry shall be entitled to effect collection out of value of the object of the right of security before other creditors, should his claim not be paid when due.
The right referred to in paragraph 1 of the present Article shall have legal effect also regarding a third party who has acquired the object of the security right from the pledger, as well as regarding subsequent acquirers of the object of the right of security.
Article 7
By a right of security a monetary claim may be secured whose amount is expressed in domestic or foreign currency.
By a right of security a designated amount of principal claim shall be covered, together with the interest due, and costs of putting into effect of collection of the claim.
By a right of security future and conditional claims may be covered as well.
In the event referred to in paragraph 3 of the present Article, to be filed in the Security Registry shall be the highest amount of the principal claim up to which the right of security covers the conditional or future claims.
Legal Effect in Event of Bankruptcy
Article 8
In the event of bankruptcy proceedings instituted against pledger's property, the settlement to be effected out of value of the object of the right of security shall be subject to rules of the Law regulating the matter of bankruptcy.
II SUBJECT MATTER OF THE RIGHT OF SECURITY
Article 9
The subject matter of the right of security may be an individually specified object that may be freely disposed of by the pledger.
It is also possible to pledge movables specified in kind, if the quantity or number, and the manner in which they can be distinguished from other property of the same kind, are stipulated by contract.
Subject matter of the right of security may also be a collection of movables located at a certain place, including inventory which, in terms of this Law, is made of movables that are intended for sale or lease, as well as raw materials and materials used for the performance of commercial activity.
In the case referred to in paragraph 3 of this Article, the right of security is spread, by operation of law, to all movables that become an integral part of the collection of movables after the establishment of the right of security, if they are owned by the pledger.
Pledging Funds on a Special Bank Account
Article 9a
The subject of a right of security may also be the claims of a pledger which, in accordance with the contracts from which they originate, are paid into a special bank account of the pledger (pledging funds on a special bank account).
In the case referred to in paragraph 1 of this Article, the subject of the right of security are the pledger's claims under the contracts in question, and the data on the special bank account of the pledger to which those receivables are paid are entered in the Security Registry.
Right of Claim and other Rights
Article 10
Subject matter of the right of security may be pledger's right to make a claim against a debtor also if the pledgee is a debtor to the pledger, except for those claims whose transfer is prohibited by law, and those that are connected to a specific person or may not be transferred to another.
Right of security upon a claim is acquired by registration in the Security Registry on the basis of a contract on pledging the claim, regardless of whether the debtor was previously informed of the pledging.
The subject of a right of security may also be shares and other property rights that are at free disposal of their owner.
Unless otherwise prescribed, the provisions relating to the pledge upon objects shall apply also to pledging of claims and other rights.
Article 11
Until being notified in writing on the taking place of right of security, a debtor of the pledged claim may fulfill his obligation to the pledger.
The debtor may be notified of existence of a pledge upon claim referred to in paragraph 1 of the present Article either by the pledger or the pledgee.
Beginning with the day of notifying of the existence of the right of security, the debtor of the pledged claim may settle the debt only to the pledgee, and not to the pledger, unless the pledgee has instructed him otherwise.
A certificate from the Registry confirming that the creditor has a security right upon a claim shall be a proof for the debtor of pledged claim that he is to pay the claim to the pledgee.
Article 12
A co-ownership share of a movable object or a collection of movables may be a subject of a pledge.
An ideal part of property rights may be pledged.
Article 13
A subject of the right of security may be the objects or rights that the pledger will acquire in the future.
The right of security referred to in paragraph 1 of the present Article shall take place when the pledger acquires the right of ownership over the object, and/or the right of claim or some other property right.
Creditor is entitled to request to file in the Security Registry the right of pledge on the future object.
Article 14
Provisions of the present Law shall not apply to security upon ships and aircrafts, for which registries are instituted according to special regulations.
Provisions of the present Law shall not apply to pledge upon securities for which a registry is instituted according to special regulations for filing third party rights upon securities.
Provisions of the present Law shall apply to a pledge upon intellectual property rights, while the pledge upon these rights shall be filed in the registry of the institution in charge of intellectual property, i.e.: brand registry, patent registry, small patents registry, registry of models, sample registry, point of origin marks registry, and topographies registry.
Article 15
Pledgee, in terms of the present Law, shall be a creditor who has acquired the right of security by filing it in the Security Registry.
Designating an Authorized Person
Article 16
By a pledge contract or a special power of attorney, the pledgee or several of them may authorize a third party to take legal actions to protect and settle secured claim (hereinafter: an authorized person).
The authorized person in relation to the pledger has the rights of the pledgee.
In order to waive the right of security, an authorized person must have a special authorization.
The data on the authorized person are entered in the Security Registry, instead of the pledgee.
If there are several pledgees, they may, in the manner referred to in paragraph 1 of this Article, designate one of them to act as the authorized person.
Article 17
Pledger, in terms of the present Law, shall be a debtor having the right of ownership upon a movable object or the capacity of a holder of some other freely disposable right.
The pledger may also be a third party extending security for another person's debt.
IV LEGAL EFFECTS OF THE CONTRACT OF SECURITY
Obligation of Preservation and Maintenance of the Subject of Security Right
Article 18
Upon concluding a contract of security, a pledger shall be obliged to preserve the subject of the right of security by applying the care of a good master of the house, and/or good businessman.
The pledger shall be obliged to maintain the subject of security right in running condition and shall make necessary repairs.
Insuring the Subject of the Right of Security
Article 19
The obligation of a pledger to insure the subject of the right of security may be stipulated by the contract of security.
Article 20
Even after filing the right of security in the Security Registry, the pledger shall have the right of possession upon the object of the right of security.
The pledger shall forfeit the right of possession after failing to meet his obligation to the pledgee.
The pledger shall be entitled to use the object of the right of security in conformity with its usual purpose.
Article 21
Should an object of the right of security produce accruals, the pledger shall be entitled to collect them.
The contract of security may provide that, instead of pledger, the pledgee be entitled to collect the accruals produced by the object of the right of security.
Article 22
Unless otherwise stipulated by contract, the pledger shall be entitled to lease the object of the right of security and to enter into other contracts by which the object of the right of security is given for use and collection of accruals.
Abalienation of the Object of the Right of Security
Article 23
A pledger may abalienate the object of the right of security and transfer the right of ownership upon a third party.
The pledger shall be obliged to submit, without delay, a request for entering the right of security into the Security Registry at the debit of the new owner.
The obligation referred to in paragraph 2 of the present Article shall refer to the new owner as well.
The pledger and the new owner of the object of the right of security shall be jointly and severally liable to the pledgee for damage that may take place due to their failure to enter into the Security Registry the right of security at the burden of the new owner.
The acquirer shall acquire the right of ownership under the burden of the filed right of security.
Should the pledger sell the object of the right of security within the scope of his regular activity, the buyer shall acquire the right of ownership without burden.
Article 24
It may be possible to exclude by contract of security the right of a pledger to abalienate the object of the right of security.
Article 25
Unless otherwise stipulated by contract, the pledger may pledge anew the object of the right of security.
Limitation of the Right of Use
Article 26
It shall be possible to limit by the contract of security the use of the object of the right of security and to determine the way in which the pledger may use it in the future.
Specific ways of using the object of the security right may be excluded by the contract of security.
V PARTICULAR CONTRACTUAL PROVISIONS ON SETTLEMENT
Article 27
Should a pledger have the capacity of a commercial entity (a person professionally engaged in commercial activity), it may be provided by the contract of security that the pledgee be entitled to sell the object of the right of security at an out-of-court public sale, if his claim be not settled when due.
Where an object of the right of security has a market or a stock-exchange price, it may be possible to provide by the contract of security that the pledgee be entitled to sell it at such price, or to keep it for himself at such price.
The status of a commercial entity shall include a company, a sole trader and other natural person professionally engaged in commercial activity.
The rules specified in paragraphs 1 through 3 of the present Article shall also apply to other natural persons in the sphere of private or public law.
Where an object of the right of security has no market or stock-exchange price, the pledgee may sell it in the manner that would be applied by a reasonable and considerate man, and by preserving the interests of the debtor and the pledger, if they are not the same person.
Particular Rules Applicable to Natural Persons
Article 28
If the pledger is a natural person who concludes a contract of security outside the scope of the business activity, it shall not be possible to provide by contract of security that the pledgee, if his claim is not settled when due, may sell the object of the right of security at the price fixed in advance, or to keep it for himself.
It shall be possible to provide by the contract of security that the object of the right of security shall be transferred to creditor's possession, should his claim be not settled when due.
At the moment of maturity of the claim, the pledgee and the pledger may come to agreement that the creditor may sell the object of the right of security at a fixed price, or that he keeps it for himself at such price.
The pledgee shall be obliged to pay without delay to the pledger the value exceeding the amount of claim.
VI ORDER OF PRIORITY OF SECURITY RIGHTS
Right of Priority of Collection
Article 29
Unless otherwise specified by the present Law, the pledgee shall be entitled to collect his claim prior to other creditors, out of the price obtained through sale of the object of security right.
Article 30
Should one and the same object of the right of security, by way of being entered into the Security Registry, be given in security to several creditors, the order of paying their claims from the value of that object shall be determined according to the time (day, hour and minute) of receiving the request for filing the security right with the Agency for Commercial Registries (hereinafter: Agency).
Order of Priority of Different Security Rights
Article 31
Order of priority between a right of security that originates through delivering of the pledged object into creditor's possession and a right of security registered in the Security Registry is determined according to the time (day, hour and minute) of receiving of the request for registration of the right of security in the Security Registry.
If the right of security that originated through delivering in possession is not registered in the Security Registry, it shall have no priority over the right of security registered into the Security Registry.
Article 32
(Deleted)
Right of Security from a Commercial Contract by Operation of Law
Article 33
The right of security by operation of law of a carrier, commission agent, forwarder or warehouse keeper originated by forwarding or transporting of objects that are given in pledge in conformity with the Law regulating the obligations (contracts and torts), shall have priority over the right of security filed in the Security Registry.
The right of security by operation of law of an operator in charge for claiming a fee for a specific work, compensation for material spent and for other claims relating to his work, that have originated on the ground of a contract for personal services provided for in the Law regulating obligations (contracts and torts), shall have priority over the rights of security that are filed in the Security Registry.
Statutory Right of Security of the Republic of Serbia, Autonomous Province and Unit of Local Self-Government
Article 34
The determining of the order of priority for securing the claims based on public revenues or other claims of the Republic of Serbia, autonomous province or unit of local self-government is done in the manner stipulated by Article 30 of this Act.
Article 35
Should a debtor fail to meet his obligation when due, the pledgee shall acquire the right to possession by operation of law itself.
At the moment of maturity the pledgee shall be entitled to effect settlement from the value of the object of the right of security of his principal claim, the interest due and the amount of expenses incurred in the process of collection.
The pledgee shall be obliged to pay to the pledger without delay the amount of price obtained through sale that exceeds the amount of the claim.
The pledgee who fails to pay to the pledger, within an eight day time-limit, the amount of price obtained through sale exceeding the amount of claim, shall pay to the pledger the prescribed interest on arrears.
Commencement of Settlement and Registration in the Security Registry
Article 36
The pledgee shall be obliged to submit a notification to the Security Registry about the intention to settle his matured claim from the value of the object of the right of security, for the purpose of publication of the notification and the registration of the note of settlement.
The procedure of out-of-court settlement shall commence with the expiry of the 30 days from the publication of the notification by the Security Registry.
The pledgee shall simultaneously forward the notification referred to in paragraph 1 of this Article to the debtor and the pledger, if they are not the same person, as well as to a third party in whose possession is the pledged object.
Article 37
(Deleted)
Article 38
The pledger shall be obliged to cooperate with the pledgee in the procedure of settling the creditor's claim out of the object of the right of security, from the moment of receiving creditor's notification.
The pledger shall be obliged to provide the creditor with necessary information for the purpose of carrying out the settlement.
Obligations referred to in paragraphs 1 and 2 of the present Article shall also be the obligations of a debtor as well, if this is not the same person.
The pledger or the debtor, if they are not the same person, who violates any of the duties specified in the present Article shall be obliged to redress the damage suffered by the pledgee.
Article 39
The pledger shall be obliged, from the day of publication of the notification referred to in Article 36 paragraph 1 of this Law, to permit that the pledgee effects settlement from the value of the object of the right of security.
The pledger shall be obliged to hand over to the pledgee, at latter's request, the object of the right of security or the document necessary for acquiring possession.
Until the handing over of possession to the pledgee, the pledger shall be obliged to refrain from actions that could reduce the value of the object of the right of security.
The pledger shall be obliged to undertake other actions as well, that are necessary for the settlement of pledgee's claim.
A pledger violating any of the obligations referred to in the present Article shall be obliged to redress the damage suffered by the pledgee.
Creditor's Right to Possession
Article 40
Upon expiration of the time limit referred to in Article 36, paragraph 2 of this Law, the pledgee shall be entitled to take possession of the object of the right of security.
Special Procedure for Acquiring Possession of the Object of the Right of Security in case of Out-of-Court Settlement
Article 41
Should a pledger fail to fulfill voluntarily his obligation to hand over to the pledgee the object of the right of security, the pledgee shall be entitled to address the court of law with a request for rendering a ruling on taking away of the object of the right of security from the pledger, or a person in possession of the object of the right of security, and on delivering that object into possession of the pledgee.
Enclosed to the request specified in paragraph 1 of the present Article shall be a certified excerpt from the Security Registry with a registered note of settlement and the contract of security.
In terms of the present Law, the excerpt from the Security Registry shall be treated as equal to an execution document.
The court of law shall be obliged to decide on the request referred to in paragraph 1 of the present Article within a three day time-limit from the day of submitting the request.
The procedure of taking away of the object of the right of security shall be conducted within a three day time-limit from the day of rendering the ruling by which the request specified in paragraph 1 of the present Article has been adopted.
If the object of the right of security, due to its nature, is unfit for being transferred in possession, or if this is in pledgee's interest, at the proposal of the pledgee, the court of law shall designate an administrator to take care of the object of the right of security until the moment of settling the claim secured by pledge.
Against the ruling on taking away of the object of the right of security from the pledger or a person in possession of the object of the right of security, the pledger may, within a three day time-limit from the day of receipt of the ruling, lodge an objection claiming that there is no creditor's claim or the right of security, or that the debt has been paid, for the purpose of which he must provide evidence in writing.
The objection referred to in paragraph 6 of the present Article shall not postpone the execution.
In charge of deciding on the objection referred to in paragraph 6 of the present Article shall be the court of law, in conformity with the Law regulating the execution procedure.
Unless otherwise specified by the present Law, the procedure for acquiring possession upon the object of the right of security shall be subject to the Law regulating the execution procedure
Article 42
From the day of publication of the notification referred to in Article 36 paragraph 1 of this Law, the pledger shall not legally dispose of the object of the right of security without permission of the pledgee.
If the pledger sells the object of the right of security within the scope of his regular activity, the prohibition of abalienation shall not produce legal effect towards an acquirer in good faith, who shall acquire the right of ownership without burden.
Judicial Sale of Object of the Right of Security
Article 43
From the date of publication of the notification referred to in Article 36, paragraph 1 of this Law, the pledgee may demand that the court reaches a decision to sell the object of the right of security in accordance with the law governing the procedure of enforcement and security interest.
Should public sale expenses turn out to be disproportionately high as compared to the value of object of the right of security, the court of law may decide that the pledgee sell the object at a price determined by an expert, or that he keeps it for himself at such price, if he so wishes.
The extract from the Security Registry with a recorded note of settlement and the contract of security is submitted with the motion for enforcement.
Article 44
A pledgee may accede to an out-of-court sale of the object of the right of security after the expiration of the time limit referred to in Article 36 paragraph 2 of this Law, if such sale is validly stipulated in the contract of security.
An extract from the Security Registry with a recorded note of settlement gives the creditor the power to conclude a contract on the sale of the object of the right of security in the out-of-court settlement procedure on behalf and for the account of the owner of the pledged object.
The debtor may validly settle the debt at any time before the sale of the object of the right of security.
Although not being obliged, the pledger may fulfill debtor's obligation within that time-limit.
Article 45
(Deleted)
Article 46
A pledgee may accede to out-of-court sale by way of auction, should such way be provided for by the contract of security.
By exception, where a pledger is a natural person who concludes the contract of security outside the scope of a commercial activity, the pledgee may accede to out-of-court public sale by way of auction if the pledgee and the pledger have come to agreement about that at the moment of maturity of creditor's claim.
The pledgee may entrust the carrying out of public sale to an expert regularly engaged in that kind of activity.
Sale at Market or Stock-Exchange Price
Article 47
The pledgee may sell the object of the right of security at a market or a stock-exchange price should such way of sale be provided for by the contract of security.
By exception, if the pledger is a natural person who has entered into contract of security outside the scope of commercial activity, this may be possible after the pledgee and the pledger have agreed about that at the moment of maturity of creditor's claim.
The market price shall be the price in regular selling of the same or similar objects under usual circumstances in the place and at the time of sale of the object of the right of security.
Should in the place and at the time of sale of the object of the right of security, the object has no market price, the price to be considered shall be the one valid at the nearest market.
The stock-exchange price shall be the price at which the same or similar objects are sold at the nearest stock-exchange.
If the object of the right of security has no market or stock-exchange price, the pledgee may sell it in the way that would be applied by a reasonable and considerate man, while preserving the interests of the debtor and the pledger.
The pledgee may entrust to a person professionally engaged in granting loans covered by pledge, or a person professionally engaged in the sale of such objects, the task of selling the object of the right of security, in his behalf and for his account.
The pledgee and the person being entrusted with the task of sale of the object of the right of security shall be jointly and severally liable to the pledger for possible damage caused in course of the sale.
Notice of Out-of-Court Sale
Article 48
Notice of the location and time of the out-of-court sale is published on the website of the Security Registry at least 15 days before the day of the out-of-court sale.
Pledger's Bringing Suit into Court
Article 49
A pledger may challenge the right of the pledgee to settle by way of out-of-court procedure if, within a 30 day time-limit from filing the commencement of settlement in the Security Registry, he files an action with the court of law together with evidence claiming that the creditor's claim or right of security does not exist, that the claim is not due for payment or that the debt has been paid.
Filing the action with the court of law shall not prevent conducting of the procedure, except if the pledger submits a public document or a private document, verified in a legally prescribed procedure, containing an evidence that creditor's claim or right of security does not exist, that the claim is not due for payment or that the debt has been paid.
In determining time-limits and dates of the appearance at court, the court shall always pay particular attention to the need of urgent deciding of these disputes.
Acquiring the Right of Ownership at Public Sale and Other Kinds of Sale
Article 50
A person buying in good faith an object of the right of security at out-of-court sale, shall acquire the right of ownership without burden.
The right of ownership acquired by a buyer in good faith shall not be challenged on the ground of possible omissions in the procedure of sale.
The rules specified in paragraphs 1 and 2 of the present Article shall also apply to sales in the procedure of settlement, if the person has purchased the object of the right of security at a market or a stock-exchange price, or at price that would be applied by a reasonable and considerate man, while preserving the interests of the debtor and the pledger.
IX TERMINATION OF THE RIGHT OF SECURITY
Payment and Other Ways of Termination of Claim
Article 51
Should a pledgee's claim cease through the payment of debt or in some other way, the right of security shall cease and shall be deleted from the Security Registry at the request of the pledgee, the debtor or the pledger, when they are not the same person.
However, the pledgee may be settled from the value of the object of the right of security even after his claim has expired due to lapse of time.
Article 52
The right of security shall cease and be deleted from the Security Registry after the object of the right of security has been ruined.
If the object of the security right has been insured, the right of security shall be established, by operation of law itself, upon the claim relating to the amount (or compensation) of insurance.
Article 53
The right of security shall cease on the ground of a public sale and other kind of sale of the object of the right of security, that has been effected for the purpose of settling the claim of the pledgee.
After the court decision on settlement has become finally binding, the court shall order by its ruling that the right of security be deleted from the Security Registry.
In the event of an out-of-court sale, the pledgee shall be obliged to issue a document on the ground of which the pledger may request that the right of security be deleted.
Entitled to request from the pledgee to issue such a document shall also pertain to a buyer who has acquired the object of the right of security at an out-of-court sale.
Article 54
Deletion of the right of security from the Security Registry may also be requested should the pledgee renounce his right of security in writing, should the capacity of a pledgee coincide in the same person having the status of a debtor, as well as should the pledgee acquire the right of ownership upon the object of the right of security.
Consent of a Creditor or Court Decision
Article 55
If the debtor or the pledger, when they are not the same person, requests deletion of the right of security, he shall be obliged to submit to the Security Registry a statement in writing of the pledgee indicating his consent to deletion, a court decision or another document from which it follows that the right of security has ceased.
Article 56
Security Registry shall be a public registry of rights of security upon objects and rights of natural or legal persons, and of other data that are to be filed in the Security Registry in conformity with the present Law.
The retention of ownership right stemming from the contract on sale of movables and the retention of the ownership right for securing the seller's claim until the full payment of the price can also be recorded in the Security Registry.
The retention of ownership right referred to in paragraph 2 of this Article shall have effects towards the buyer's creditors if it is registered in the Security Registry before the buyer's bankruptcy or before the seizure of the property.
The Security Registry shall be a unified electronic data base whose foundation is a central data base where data filed in the Security Registry are kept safe.
Local Security Registry units shall be established in the territory of the Republic of Serbia. The central data base shall be accessible through local Security Registry units, for the purpose of filing or searching.
Article 57 and 57a*
(Ceased to be valid)
Accessibility to Security Registry
Article 58
The Security Registry shall be accessible to all persons regardless of the place and territory of their acceding to the Security Registry. All persons shall be free to address any Security Registry unit, without limitation, for the purpose of filing or searching.
The Security Registry shall be accessible at any moment within the Registry's working hours.
Article 59
Data from the Registry shall be open to the public.
Every one shall be entitled to request an insight to data entered into the Security Registry.
Every one shall be entitled to request, in conformity with regulations, a certified excerpt relating to data from the Security Registry.
Every one shall be entitled to request an excerpt by which it is confirmed that the Registry does not include data relating to a pledge upon a specific object or right.
The documentation on the basis of which the data was registered is available in accordance with the regulations governing the protection of personal data and business secrets.
Article 60*
(Ceased to be valid)
Effect of Filing of Data in the Security Registry towards Third Parties
Article 61
It shall be deemed that third parties are aware of the existence of a right of security on the ground of the very filing in the Security Registry. No one may claim the circumstance that he was not aware of the data from the Security Registry.
Filing of data in the Security Registry shall make no evidence of the existence of property or other rights of the pledgee upon the pledged movables, nor that the secured claim or pledging is full and valid.
Data Included in the Security Registry
Article 62
The Security Registry shall include:
1) data on the pledger and the debtor, when they are not the same person, as well as on the pledgee or an authorized person referred to in Article 16, paragraph 1 of the present Law;
2) data indicating more closely the subject of the right of security;
3) data on the basic and maximum amount of secured claim, and for the future or conditional claim, data on the amount referred to in Article 7 paragraph 4 of this Law;
4) data on the existence of a litigation regarding the right of security or in relation to the subject of security;
5) data indicating that the procedure of reimbursement is commenced by the realization of the right of security.
If a holder of the right of security is a domestic natural person, the data specified in paragraph 1, item 1 of the present Article shall refer to the name, surname, personal identification number and the place of residence of that person, and if the holder of the security right is a foreign natural person, the data specified in paragraph 1, item 1 of the present Article shall refer to the name, surname, passport number and the country of issuing it.
If a holder of the right of security is a domestic juridical entity, the data specified in paragraph 1, item 1 of the present Article shall refer to the business name and the identification number, and if a holder of the right of security is a foreign juridical entity, the data specified in paragraph 1, item 1 of the present Article shall refer to the business name, designation under which it is filed in the registry of foreign commercial entities, the title of that registry and the name of the country of its head office.
All the changes of data specified in paragraph 1 of the present Article shall also be entered into the Security Registry.
Amendments to a Filed Right of Security
Article 63
Amendments relating to essential elements of the filed right of security shall have the character of a new entry.
The amendments filed shall be indicated in the excerpts from the Security Registry as particular entries.
Registration and Deletion of Notes
Article 64
The note of the settlement referred to in Article 36, paragraph 1 of this Law shall be entered in the Security Registry, as well as the note of a dispute regarding a lawsuit for the deletion of the right of security or other dispute regarding the registered right of security.
In order to delete the note of settlement referred to in Article 36, paragraph 1 of this Law, an annex to the contract of security or other appropriate document is attached, from which it can be undoubtedly determined that the creditor has given up the settlement of the claim and that there is an agreement on the will to extend the maturity period of the secured claim.
The note of settlement referred to in Article 36, paragraph 1 of this Law shall be deleted ex officio by the expiration of a period of 18 months from the day of registration.
If the contract of security on the basis of which the registration of the right of security has been performed is certified, the document referred to in paragraph 2 of this Article attached to delete the registered note that the settlement procedure has begun, must be certified.
In order to delete the note of the dispute, a final decision of the court or a settlement by which the dispute in question is concluded is enclosed.
Article 65
Documentation in paper on the ground of which an entry of data into the Security Registry has been made, i.e. on the basis of which the right of security has been deleted, shall be stored for five years from the day of finality of the decree whereby the right of security has been deleted.
The documentation referred to in paragraph 1 of this Article shall be transformed into electronic form and kept in accordance with the regulations governing the preservation of archival material and documentary material.
Article 65a - 65f**
(Ceased to be valid)
XI TRANSITIONAL AND CONCLUDING PROVISIONS
Article 66
Until the enactment of special regulations for a detailed regulation of the mater of filing of the right of security in the registries of intellectual property, referred to in Article 14, paragraph 3 of the present Law, the right of security upon intellectual property rights shall be filed in the Security Registry, in conformity with the present Law.
Article 67
Where a non-possession pledge upon a movable property or claim is constituted by a decision of the competent court, in conformity with the law regulating the execution procedure, or with other law, until 1 January 2004, the right of priority in settling shall be calculated from the day of rendering the court decision, if the creditor submits a request for filing the pledge in the Security Registry until 15 January 2004.
If the creditor submits the request for filing a non-possession pledge referred to in paragraph 1 of the present Article into the Security Registry after 15 January 2004, the right of priority in settling shall be calculated from the day of filing in the Security Registry.
The creditor shall be obliged to enclose to the request specified in paragraphs 1 and 2 of the present Article the court decision on constituting a non-possession pledge.
Article 68
If a non-possession pledge originates directly on the ground of law or is constituted by a decision of a state agency in conformity with law until 1 January 2004, the priority right in settling shall be calculated from the day of its taking place on the ground of law, or from the day of rendering the decision of the state agency, if the creditor submits a request for filing the pledge in the Security Registry until 15 January 2004.
If the creditor submits the request for filing of a non-possession pledge specified in paragraph 1 of the present Article into the Security Registry after 15 January 2004, the right of priority in settling shall be calculated from the day of filing in the Security Registry.
The creditor shall be obliged to enclose to the request specified in paragraphs 1 and 2 of the present Article the decision of the state agency on constituting a non-possession pledge.
Article 69
By exception to the provisions of Article 34 of the present Law, the Republic of Serbia shall have priority in settling, regardless of filing the right of security in the Security Registry, upon monetary funds deposited in the account of a taxpayer at the banks or other financial organisations.
Article 70
The present Law shall come into effect on the eighth day following the day of publishing in the "Official Herald of the Republic of Serbia", and shall be applicable from 1 January 2004.
Independent Articles of the Law on Amending the
Law on Right of Security upon Movable Objects Filed in Registry
("Official Herald of the RS", No. 61/2005)
Article 10
The Security Registry shall begin the work on 15 August 2005.
Article 11
Should a request for filing a right of security in the Security Registry be submitted within 90 days following the day of commencement of work of the Security Registry, the right of priority in settling a claim shall be counted in the following way:
1) from the day of passing a court decision, if a non-possession pledge upon a movable object or a right is constituted until the day of coming into force of the present Law by a decision of the competent court;
2) from the day of materialising of a non-possession pledge or from the day of passing an act of the government agency, if the non-possession pledge upon a movable object or a right was materialised until the day of coming into force of the present Law directly on the ground of law, or on the ground of an act of the government agency;
3) from the day of certification of a contract by the court or another agency authorised for signature certification, if a non-possession pledge upon a movable object or a right was materialised until the day of coming into force of the present Law on the ground of contract.
Article 12
The present Law shall come into force on the eighth day following the day of publication in the "Official Herald of the Republic of Serbia".
Independent Articles of the Law on Amendments and Supplements to the Law on Right of Security upon Movable Objects Filed in Registry
("Official Herald of the RS", No. 31/2019)
Time Limit for Adoption of Secondary Legislation
Article 30
Within six months from the day of entry into force of this Law, the Minister in charge of economic affairs shall harmonize with this Law the secondary legislation that regulates in more detail the content of the Security Register as well as the documentation necessary for registration.
Transitionncal and Final Provision
Article 31
Creditors who have, prior to day when Article 3 of this Law became applicable, acquired a right of security by transferring the objects into the possession or in some other manner prescribed by law, enjoy the right of priority in settlement in relation to the subsequent right of security recorded in the Registry of the pledge, only if the contract has been made in writing and certified by the authority responsible for certifying signatures before this Law became applicable.
Article 32
The provisions of Article 3 and Article 25 paras. 3 and 4 of this Law shall become applicable as of January 1st 2021.
Article 33
This Law shall enter into force on the eighth day from the day of publication in the "Official Herald of the Republic of Serbia".